SpaceX Moves Another $94.4M in Bitcoin to Coinbase

SpaceX has executed yet another major Bitcoin transfer, moving 1,021 BTC worth $94.48 million to Coinbase Prime.

Lookonchain and SwanDesk called attention to the transaction via social media. The move marks the latest in a series of high-value Bitcoin transactions by Elon Musk’s aerospace firm.

Fresh 1,021 BTC Transfer Adds to Ongoing Series

Data from Arkham Intelligence shows that SpaceX’s latest outgoing transaction leaves its monitored wallet with 3,991 BTC. This holding is worth approximately $366.9 million at today’s Bitcoin price of $91,847, up 1.57% over the past 24 hours.

This transfer is consistent with SpaceX’s ongoing pattern of moving large sums to Coinbase Prime. Notably, just five days ago, the firm moved $100 million worth of BTC to Coinbase. Market observers note that these transactions relate to custody management rather than selling.

Three Months of Repeated High-Value Transfers

The latest movements follow multiple large transactions in recent months. On October 21, SpaceX moved 2,395 BTC worth about $268 million at the time.

On October 30, it shifted another 281 BTC as part of a larger 1,207 BTC reorganization, sending $19.33 million to Coinbase Prime and moving the rest back into its own wallets. In total, SpaceX transferred more than $450 million in Bitcoin during October.

Although these moves sparked community speculation, analysts say they are routine wallet security updates and multi-signature maintenance, not signs that SpaceX is selling. The activity suggests the company is reorganizing its holdings rather than reducing them.

Bitcoin Market Context

Meanwhile, the latest transfer occurred during a period of market uncertainty. Since October, when SpaceX actively shuffled its Bitcoin holdings, the coin has fallen from its peak price of $126,200 to around $80,000 before recovering slightly.

As of press time, BTC remains in the $91,000 range after briefly touching $93,000 yesterday evening.

Musk-Linked Firms Hold Over $2B in Bitcoin

SpaceX remains one of the largest corporate holders of Bitcoin. On-chain data shows that SpaceX holds 8,285 BTC, while Tesla holds 11,509 BTC, unchanged since 2022.

Combined, Musk’s companies control over 19,700 BTC worth around $2 billion. This places Musk among the most influential corporate figures in Bitcoin’s institutional landscape.